WAND.L Share News (WAND)

(Alliance News) - WANdisco PLC on Tuesday said it has signed an initial agreement with an unnamed European-based global telecommunications service provider, worth USD6.6 million.

The Sheffield-based data-management software company said the agreement is a one-off migration that provides for Internet of Things data that resides in the client's data centre to be migrated to the cloud.

WANdisco said it was chosen due to "its proven ability to migrate petabyte scale data."

Once the migration is complete, the company expects that the client will launch a range of IoT-related services.

"With the proliferation of IoT devices, telecommunication service providers are increasingly seeing data as an important revenue opportunity. This industry vertical is a strategic target market for WANdisco with a healthy pipeline of further opportunities," WANdisco explained.

It added that it expects the industry to become a "core and growing market" for WANdisco.

Chief Executive & Chair David Richards said: "This is the third tier 1 global telecommunications company to choose WANdisco's solutions since the start of 2022, underpinning our unique ability to seamlessly and securely migrate large scale data from edge platforms to the cloud. As the company has seen with other customers, WANdisco believes there is potential for significant expansion opportunities with this customer."

Shares in WANdisco were up 0.9% at 910.00 pence each in London on Tuesday morning.

By Sophie Rose, Alliance News reporter

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